Revenue Cycle Management

 

OrthoEconomics is recognized as a leader in revenue cycle management, specializing in delivering accurate, efficient, technology based, customized medical billing services to each of our clients.  By customizing our approach to the unique requirements of each practice, our clients will experience the following benefits by partnering with OrthoEconomics:

 

• Accelerated Account Receivables

• Increased cash flow

• Higher revenue generation

• Decreased operational costs

• Improved employee production

• Increased patient satisfaction

 

 

Billing and collections has always been a cornerstone in any physician practices’ success.  OrthoEconomics, by applying our extensive knowledge and experience, can streamline the complex process of collecting the correct amount due to your practice.  Our billing and collection services include the following a customized to each practice:

 

Charge entry

 

We will coordinate the charge entry of patient demographics and charges capture information into the designated database.

 

Claims Submission

 

Working with your existing practice management system, OrthoEconomics will prepare and submit electronic claims to the designated clearinghouse and then reviews, corrects and resubmits any rejected claims.  If required, we will submit paper claims as designed by respective payers.  In addition, we will coordinate and process all secondary and tertiary claim processing.

 

Payment Posting

 

All payments and remittance information received via lock box, electronically or manually are posted in the practice management database.  Every EOB is audited to verify the correct payment amount.  Our payment posting is also audited to ensure the patient records accurately reflect the remittance advice.

Denial Management – Appeals

 

We capture, document and review all denials.  Our team of Denial Management experts analyzes the denied and under-paid claims in order to determine the reason behind the denial or under-payment.    If a payment has been denied incorrectly, or under-paid, claims are aggressively appealed with the insurance company and followed up within the stipulated time.  In addition, if a claim is denied for any demographic information, we coordinate obtaining the correct information and resubmit the claim in an expedited fashion.

 

Patient Collections

 

We customize our approach to patient collections based upon the desires of each practice we work with.  We provide patient statements, demand letters, automated phone calls and personal phone calls to achieve payment.  We have a patient call center dedicated to answer patient’s questions regarding their account.

 

Reporting

 

Account information can be sent on a daily, weekly and monthly basis.  Our detailed reporting is customized to the needs and desires of each practice and allows us to benchmark performance.

 

Credentialing

 

Our team has vast experience in assisting and completing provider applications directly with insurance carriers or with third party organizations.  We also facilitate the updating of the physician information as required by each entity that the provider is contracted with.

 

 

Please contact OrthoEconomics to learn how we can improve your billing and collections performance.

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